Suspect Device Posted October 20, 2021 Share Posted October 20, 2021 1 hour ago, Detournement said: How does a Bitcoin ETF drive the up the price of BTC? Tether printed 400,000,000 USDT yesterday. I would assume it's because the fund will be buying a lot of bitcoin and it's simple supply and demand. Do the 'nomal' rules apply? 0 Quote Link to comment Share on other sites More sharing options...
Detournement Posted October 20, 2021 Share Posted October 20, 2021 (edited) 16 minutes ago, Suspect Device said: I would assume it's because the fund will be buying a lot of bitcoin and it's simple supply and demand. Do the 'nomal' rules apply? They could just buy the Bitcoin with money rather than buying Tether to then buy Bitcoin. Tether are an extremely dodgy company. No one is giving them any large amount of cash legitimately. Edited October 20, 2021 by Detournement 0 Quote Link to comment Share on other sites More sharing options...
Detournement Posted October 21, 2021 Share Posted October 21, 2021 A nice graphic which sums up the reliance on Tether to drive the price up. 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 21, 2021 Share Posted October 21, 2021 11 minutes ago, Detournement said: A nice graphic which sums up the reliance on Tether to drive the price up. You will be happy to know that Tether's dominance over the stable coin market has been deteriorating over the past few years. 0 Quote Link to comment Share on other sites More sharing options...
Detournement Posted October 21, 2021 Share Posted October 21, 2021 USDC are unaudited as well. 0 Quote Link to comment Share on other sites More sharing options...
Aladdin Posted October 21, 2021 Share Posted October 21, 2021 Is there any good beginner guides to crypto online? I dont understand any of the technology behind it or practical applications it has but, having stuck a very small amount into XRP just to try and give me some motivation to read up on it, it seems like all crypto is extremely volatile and much more susceptible to the actions of investors more so than any other assets. Basically I dont understand any of analysis and price predictions either. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted October 21, 2021 Share Posted October 21, 2021 Crypto's all about putting financial power back in the hands of the people instead of governments and global bankers. Except when it isn't. US Government Enlists USDC for ‘Global Foreign Policy Objective’ in Venezuela: Circle CEO 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 21, 2021 Share Posted October 21, 2021 2 hours ago, Aladdin said: Is there any good beginner guides to crypto online? I dont understand any of the technology behind it or practical applications it has but, having stuck a very small amount into XRP just to try and give me some motivation to read up on it, it seems like all crypto is extremely volatile and much more susceptible to the actions of investors more so than any other assets. Basically I dont understand any of analysis and price predictions either. Hi Aladdin, Coinbase (One of the biggest exchanges/nu-bank) has good tutorials to get you started. https://www.coinbase.com/learn#crypto-basics With regards to the volatility, most of these assets are very volatile, but over the long term you can see a trend appearing. Below is a graph of Bitcoin versus the US Dollar over the past 8 years. You can see that there are 3 spikes of large volatility on the chart. 2021 (now lots of people like yourself are hearing the hype and learning about it), December 2017 (The previous bull market you would have seen in the news), and if you squint at 2014 there was huge volatility then but it now just looks like a tiny bump because the price has went up so much over time. What this shows is if the pattern repeats= the price will go up from here over the next few months but it will almost certainly crash as well some point early next year. SO if you don't think you can handle volatility you may want to think if you are happy buying at this point... but keep learning about it, it is important stuff. If you don't like volatility, you can still buy stable coins and earn yield off of them much better than your bank accounts are getting. All I would ask is you keep an open mind, you don't want to be like the other posters on here who don't look like they are having fun staying poor. 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 21, 2021 Share Posted October 21, 2021 3 hours ago, welshbairn said: Crypto's all about putting financial power back in the hands of the people instead of governments and global bankers. Except when it isn't. US Government Enlists USDC for ‘Global Foreign Policy Objective’ in Venezuela: Circle CEO Circle is a centralised entity with its own stable coin. It is handy option to jump into sometimes but everyone who has ever used it understands that it will one day be shut down or come under government influence. That is why they choose decentralised money games like Bitcoin/Ethereum 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted October 21, 2021 Share Posted October 21, 2021 15 minutes ago, iron mike python said: you don't want to be like the other posters on here who don't look like they are having fun staying poor. And where will your profit be if you don't persuade lots of people like @Aladdin to buy in and increase the value of your coins, however temporarily? (Use my Binance referral for 5% refund of Binance trading fees.) 1 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 21, 2021 Share Posted October 21, 2021 2 minutes ago, welshbairn said: And where will your profit be if you don't persuade lots of people like @Aladdin to buy in and increase the value of your coins, however temporarily? (Use my Binance referral for 5% refund of Binance trading fees.) I'm up x94 on my original investment. I've got a pretty strong feeling I'll be in profit if Aladdin doesn't buy..... in fact I strongly hinted that Aladdin shouldn't buy just now because he says he doesn't like volatility. 1 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted October 21, 2021 Share Posted October 21, 2021 4 minutes ago, iron mike python said: I'm up x94 on my original investment. I've got a pretty strong feeling I'll be in profit if Aladdin doesn't buy..... in fact I strongly hinted that Aladdin shouldn't buy just now because he says he doesn't like volatility. So do you think it likely that @Aladdin multiplies his investment 94 fold, or is that just for folk further up the pyramid like yourself? 0 Quote Link to comment Share on other sites More sharing options...
The Moonster Posted October 21, 2021 Share Posted October 21, 2021 25 minutes ago, iron mike python said: All I would ask is you keep an open mind, you don't want to be like the other posters on here who don't look like they are having fun staying poor. Telling folk to "have fun staying poor" or comments like it is extremely pish chat btw. Investment is your thing, if you do well then enjoy yourself, don't take pops at folk who are poorer than you. 3 Quote Link to comment Share on other sites More sharing options...
Genuine Hibs Fan Posted October 21, 2021 Share Posted October 21, 2021 1 minute ago, The Moonster said: Telling folk to "have fun staying poor" or comments like it is extremely pish chat btw. Investment is your thing, if you do well then enjoy yourself, don't take pops at folk who are poorer than you. this is also a guy who claimed to be a crypto millionaire before immediately rolling it back and admitting he was LARPing so pinch of salt etc 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 21, 2021 Share Posted October 21, 2021 1 minute ago, welshbairn said: So do you think it likely that @Aladdin multiplies his investment 94 fold, or is that just for folk further up the pyramid like yourself? Not if he buys just now, that is why I have hinted that he researches about crypto just now and finds a project which he can buy when the bear market comes around. Then he will have a good chance. Alternatively he could stay in Great British Pounds. An item that cost 50 pounds in 1970 would theoretically cost 780 pounds in 2019's money. Everyone should be happy, have fun staying poor , have fun being rich, come on everyone have fun! 0 Quote Link to comment Share on other sites More sharing options...
Satoshi Posted October 21, 2021 Share Posted October 21, 2021 (edited) 9 minutes ago, Genuine Hibs Fan said: this is also a guy who claimed to be a crypto millionaire before immediately rolling it back and admitting he was LARPing so pinch of salt etc Anyone who has been as involved for as long, and is as knowledgable, about crypto as Iron Mike Python should be a millionaire by now. I suspect that he doesn't want to declare on a public forum because bragging is quite un-Scottish and/or he wants to avoid any tax implications / violent Paisley based kidnap gangs. As x94 that would work out at an initial investment of just over £10.5k. That being said, you can get a better binance discount by just googling it rather than using his link. Crypto wasn't invented to make people rich, but it is a nice side effect. Edit: as tempted as I am by altcoins, I wouldn't recommend buying any crypto right now and I would certainly stay away from Bitcoin for the moment. Edited October 21, 2021 by Satoshi 0 Quote Link to comment Share on other sites More sharing options...
Fraser Fyvie Posted October 21, 2021 Share Posted October 21, 2021 Turkish Lira utterly rekt as well. 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted October 21, 2021 Share Posted October 21, 2021 Turkish Lira utterly rekt as well. I was getting paid in lira during a lot of those red candles. Far from fun times. Tax on booze rocketed then, too. 0 Quote Link to comment Share on other sites More sharing options...
Busta Nut Posted October 21, 2021 Share Posted October 21, 2021 Anyone been pumped by this sorta stuff? 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted October 22, 2021 Share Posted October 22, 2021 Has anyone on P&B made millions in crypto and currently posting from a yacht off the Bahamas? Hope they're having fun. It's getting cold in Aberdeen and I'm going to sit freezing my nuts off watching us getting beat again tomorrow. 0 Quote Link to comment Share on other sites More sharing options...
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